Mahindra bets on maiden e-car launch

Mahindra bets on maiden e-car launch

The e2o, an all-electric, four-seater passenger car, will be the first model under the Mahindra Reva stable to be launched.

The date is set for next week.

Developed by the former Reva Electric Car Company, renamed Mahindra Reva Electric Vehicles, as the NXR, the e2o will replace the existing REVAi and will be launched as the most cost-efficient car to own in India.

The two-door e2o -- the name stands for Energy to Oxygen -- is the first vehicle from the Bengaluru-based company after it was acquired by the Mumbai-based Mahindra & Mahindra in 2010.

Mahindra bets on maiden e-car launch

Half of the older-generation electric cars were sold in the 24 international markets where Reva has a presence.

"There is a great opportunity (for Reva e2o exports) and it is very tempting. We should be able to begin with exports by the end of the year," said Maini, on the sidelines of the launch of a social media campaign for the car.

Batteries form the main component of costs in an electric car.

The company is presently importing the lithium-ion batteries from a few international partners but could explore making these locally if there is a demand spurt.